BTS, also known as the Bangtan Boys, is a seven-member South Korean boy band formed by Big Hit Entertainment in 2013. The name became a backronym for Beyond The Scene in July 2017. In September 2018, BTS gave a speech at the United Nations as ambassadors for UNICEF and announced "Generation Unlimited", a new campaign focused on "youth development with empowering messages". They were also featured on the cover of Time magazine's international edition as 'Next Generation Leaders'. In a December 2018 study conducted by the Hyundai Research Institute, it was revealed that BTS are worth more than $3.6 billion USD to South Korea's economy each year, and were the reason one in every 13 foreign tourists visited the country earlier that year.